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Bud Light ignited a massive and sustained firestorm of negative public sentiment by enlisting transgender influencer Dylan Mulvaney to advertise the beer brand, and now, months into the public backlash, Florida Gov. Ron DeSantis is calling for the Florida State Board of Administration to launch a review into how Anheuser-Busch's actions impacted the worth of SBA's AB InBev holdings.
"It has come to my attention that the State Board of Administration (SBA) currently holds global equity assets with Anheuser-Busch InBev," DeSantis noted in a message to SBA Interim Executive Director Lamar Taylor. "As you well know, AB InBev's performance has plummeted since its decision to associate its Bud Light brand with radical social ideologies. That fateful decision has transformed America's formerly best-selling beer — and one of InBev's best-performing assets — into a commercial pariah."
DeSantis requested for a review to be initiated "to examine how AB InBev's conduct has impacted and continues to impact the value of SBA's AB InBev holdings. It appears to me that AB InBev may have breached legal duties owed to its shareholders, and that a shareholder action may be both appropriate and necessary. To protect SBA and the retirees of Florida from losses attributable to AB InBev's disregard of those duties, all options are on the table," DeSantis noted in the letter.
Anheuser-Busch has failed to quench the raging fires of negative sentiment in the months that have elapsed since the initial wave of public outrage erupted earlier this year.
DeSantis, who won re-election during the Sunshine State's 2022 gubernatorial primary, is currently running for president. Former President Donald Trump maintains a large lead over the field, and DeSantis is trailing Trump in a distant second place.
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Alex Nitzberg is a staff writer for Blaze News.